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Fuel Retail Price Reduced in Ethiopia

The Ministry of Trade revised fuel prices which are to be effective as of February 6, 2016, Fortune reported.

The retail price of one liter of benzene has been reduced from 16.61 birr to 15.26 birr; white Diesel is down to 12.22 birr a liter; Kerosene is now down from 12.43 birr to 10.73; Light Black Diesel and Hard Black Diesel have decreased from 12.42 birr and 11.77 birr to 10.93 and 10.27 birr respectively. The Ministry has not changed the price of airplane fuels.

The above revision was made following the decline of fuel in the international market. The sharp decline of oil price in the global market placed the commodity at 28 dollars a barrel. As of February 1, 2016, the average price of gasoline around the world is 0.98 cents per liter.

Source: Fortune